2022-12-012023-11-302023-11-30false12324384CHAMPION INNS 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CHAMPION INNS LTD

Registered Number
12324384
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

CHAMPION INNS LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

ING, Anita Elizabeth
ING, Richard Arthur

Registered Address

33 Riverside Walk Tamerton Foliot
Plymouth
PL5 4AQ

Registered Number

12324384 (England and Wales)
CHAMPION INNS LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets3752,757109,266
Tangible assets470,748120,900
823,505230,166
Current assets
Stocks145,057181,375
Debtors333,012232,381
Cash at bank and on hand127,087668,177
605,1561,081,933
Creditors amounts falling due within one year(981,870)(632,847)
Net current assets (liabilities)(376,714)449,086
Total assets less current liabilities446,791679,252
Creditors amounts falling due after one year(400,015)(120,468)
Provisions for liabilities(17,687)(30,246)
Net assets29,089528,538
Capital and reserves
Called up share capital100100
Profit and loss account28,989528,438
Shareholders' funds29,089528,538
The financial statements were approved and authorised for issue by the Board of Directors on 19 February 2024, and are signed on its behalf by:
ING, Anita Elizabeth
Director
Registered Company No. 12324384
CHAMPION INNS LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
These accounts are completed using the going concern basis. The Directors of the company are satisfied that sufficient funds are available to the business to see the business through the foreseeable future.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are assessed for impairment every year and are valued at fair value assessment
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery5
Fixtures and fittings5
Vehicles3
Office Equipment3
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year00
3.Intangible assets
Intangible leases held as at balance sheet date

Total

£
Cost or valuation
At 01 December 22109,266
Additions643,491
At 30 November 23752,757
Net book value
At 30 November 23752,757
At 30 November 22109,266
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 December 22177,740
Additions(14,163)
At 30 November 23163,577
Depreciation and impairment
At 01 December 2256,840
Charge for year35,989
At 30 November 2392,829
Net book value
At 30 November 2370,748
At 30 November 22120,900
5.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts370,87680,324
Relates to the leasehold creditor
6.Related party transactions
£122,178.27 is included within current liabilities relating to a loan from Pub Solutions South West Limited a Company owned and controlled by The controlling interests of the company. This loan does not bear interest and is repayable on demand.